Elon Musk Becomes First Man Ever To Lose $200 Bln

(RTTNews) - Elon Musk becomes the first man ever to lose $200 billion in wealth, according to Bloomberg.

The CEO of Tesla (TSLA), SpaceX and Twitter is currently worth $137 billion, according to the Bloomberg Billionaires Index. However, at its peak, Musk touted a net worth of $340 billion. He currently sits at second place on the list of the world's richest behind LVMH Chairman Bernard Arnault.

A key part of Musk's net worth is from his stake in Tesla (TSLA). Tesla's stock has more than halved in value this year due to a sell-off after Musk's $44 billion acquisition of social media company Twitter. Tesla's stock has also been impacted by its disappointing quarterly results as well as ongoing disruptions at one of its factories in Shanghai.

Tesla shares were trading at $340.79 on April 13, the day before Twitter revealed that Musk made a hostile bid worth $43.4 billion. Since then, the Tesla share price has slumped over 60% and is currently trading below the $125 mark.

Meanwhile, Arnault is currently worth $162 billion. He has only lost a mediocre $15 billion in the year-to-date period. Arnault was the first European to top Bloomberg's list of the world's richest people.

Arnault, through holding vehicles and family trusts, owns a little over 60% of LVMH's voting share class, according to SEC filings.